https://www.taxtmi.com/caselaws?id=388020 The Tribunal upheld the deletion of the addition made by the Assessing Officer (AO)/Transfer Pricing Officer (TPO) on account of corporate guarantee fees for the Assessment Years 2009-10, 2010-11, and 2011-12. It directed the TPO/AO to re-examine the credit rating of the subsidiaries and ascertain the arm's length price of the loan related to interest on loans given to subsidiary companies. The Tribunal restricted the disallowance under section 14A r.w.r. 8D to the amount already disallowed by the assessee. It allowed the loss from option contracts in foreign currency as a business loss and permitted the deduction of education cess under section 37(1) of the Act. The Revenue's appeals were dismissed, and the cross-objections filed by the assessee were allowed. en-us Thu, 31 Oct 2019 00:00:00 +0530 Wed, 06 Nov 2019 12:16:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=388020 The Tribunal upheld the deletion of the addition made by the Assessing Officer (AO)/Transfer Pricing Officer (TPO) on account of corporate guarantee fees for the Assessment Years 2009-10, 2010-11, and 2011-12. It directed the TPO/AO to re-examine the credit rating of the subsidiaries and ascertain the arm's length price of the loan related to interest on loans given to subsidiary companies. The Tribunal restricted the disallowance under section 14A r.w.r. 8D to the amount already disallowed by the assessee. It allowed the loss from option contracts in foreign currency as a business loss and permitted the deduction of education cess under section 37(1) of the Act. The Revenue's appeals were dismissed, and the cross-objections filed by the assessee were allowed. Case-Laws Income Tax Thu, 31 Oct 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=388020